Gambling Cryptocurrency: The Full Guide

What is Gambling With Cryptocurrency?

Gambling with cryptocurrency is when you use crypto to bet and wager on the outcome of normal casino games. So this includes things like roulette, blackjack or poker. Sports betting is another way that cryptocurrency is currently being wagered.

Some casinos like Bitstarz are actually so focused on this type of gambling that they only accept bitcoin. Other casinos have a more flexible crypto policy.

Besides normal casino games, some casinos that let you use crypto offer up variants of games that aren’t in other casinos, like unique releases of slots, or games involving dice.

Crypto has already changed a lot of industries, but now it’s affecting casinos too. The most influential crypto gambling sites are transforming and changing the online gambling environment.

Betting With Crypto

It’s actually far easier to bet with cryptocurrency than you’d think.

Follow these simple steps and you’ll be ready to gamble in no time!

• Create Your Crypto Wallet
• Purchase Cryptocurrency
• Deposit it
• Choose a Crypto Casino
• Play Games
• Withdraw Winnings

Choose A Crypto Casino

Usually, this depends on what crypto you bought. You’ll want to make sure that you either buy crypto accepted by the casino you want to gamble at, or that the crypto you really want works out with a casino you consider acceptable.

Make certain that this casino is suitable in other ways too: like hosting games you like and having acceptable wagering rules, for example.

Create Your Crypto Wallet

Your cryptocurrency wallet is the same as a physical wallet, with much less risk of it being stolen. It’s very safe and secure.

It’s a secure location that allows you to send and retrieve digital assets. You can store them in this wallet as well, of course. There’s many different ones to choose from: pick one of the major kinds and then register and receive your digital address.

Purchase Cryptocurrency

Now that you have a wallet, you can go and buy crypto. Just log in and go buy whatever crypto you fancy – it doesn’t matter whether it’s bitcoin or dogecoin or any the other ones.

Bitcoin is, of course, still the most popular, but it’s not at all the only option. Other crypto may work well for you, depending on their value and how much you like them. Make sure you research your options – and that they are accepted by the casino.

Deposit The Crypto

Now you’re going to send your crypto to the casino that you’re going to be using it to bet at. In some ways, this is easier than using normal deposit methods.

Go to your account page. Usually, once you get to the crypto page, you’ll get the wallet address of your casino. It’s as simple as entering the wallet address and selecting the amount to deposit.

That’s it! Your account is funded and you can bet. It may be converted into USD or another currency depending on the casino/crypto operator you use.

Play Games

Now here’s the fun part: the part where you actually get to play games and gamble. Check out what games you can play, what you have the best chance of winning, and how much you’d actually like to wager.

Make sure you double-check things like game rules and payouts. These can differ from regular casino providers, sometimes with an even better RTP!

Withdraw Winnings/Cryptos

You’re probably really curious about this part.

Your head to your account page and click withdraw. It will ask you for the amount and the crypto you’d like to take out. The withdrawal request will then take place, though it shouldn’t take much longer than the deposit request did. They make sure with checks that everything is safe and fair – no fraud or terrorism, etc.

Some Interesting Crypto Casino Stats

Some interesting numbers regarding cryptocurrency iGaming:

• $150 million: the amount of crypto made for gambling
• $3 million: the amount moved every 24 hours across casino-specific coins
• $WIN – the most valuable crypto as accepted by WINk casino.
• 30,000 – The number of players doing crypto gambling every week

The Absolute Top Tier Crypto Gambling Sites

Not all crypto casinos only accept Bitcoin. Many different sites, all with different traits and features and reasons you’d want to play with them, are accepting crypto. Some of these casinso are doing really well in the market right now – and it’s not hard to see why.

Crypto casinos offer increased security and privacy, but also promotions that you won’t find anywhere else.

Here’s a really great list of the biggest casinos accepting crypto:

• BitStarz (Plenty of Promotions)
• Ignition (Best for Poker Players)
• CloudBet (Best EU Casino)
• Bovada (Top Sports Betting)
• 7Bit Casino (Perfect choice for those using Ethereum and Litecoin)
• Fortune Jack (Hosts Unique Crypto Games)

There are many more besides this, but these are just some of the best current crypto casinos available to players at this point in time.

Why Even Game At a Crypto Casino?

Besides fighting and taking a little bit of control back from massive banks, what are the reasons to play at a crypto casino versus a normal online casino? Even if you take that away, as it turns out, there are plenty of reasons to play and gamble with crypto.

It’s simply a great choice for both operators and players.

Here are just some of the benefits:

• Superior Bonus Terms
• Lightning Fast Payment Processing
• New Games/Unique Game Selection
• True Privacy
• Amazing Security

A lot of these things are only possible with crypto – or aren’t nearly as good without it. Of course, always steer clear of any red flags, and be careful of someone or something that looks too good to be true: but besides those rare examples, crypto casinos are nearly better than normal ones in every way.

Most Common Crypto Betting Questions

Q: Is it legal?

A: It’s a relatively new medium compared to other types of gambling. Because of this, it’s technically not illegal, nor is it legal. Laws have yet to be developed. However, there are still legitimate operators in the market.

Q: Who licenses these places?

A: Most of them get their licenses from the Curacao Gambling Authority.

Q: Does Cryptocurrency Ever Go Away?

A: Yes, as long as you have an internet connection. That’s not going anywhere soon – so don’t worry about cryptocurrency disappearing tomorrow out from under you.

Q: Can I use crypto at [this casino]?

A: As long as it holds a Curacao Gambling Authority license, yes.

Other regulators, like Malta Gaming Authority or the UK Gambling Commission may make it a bit more difficult. These are more traditional organizations and are still adjusting to new mediums and technologies like crypto.

Conclusions

Though it isn’t completely regulated, crypto casinos are great to play in, offer awesome platorms, and are run by legitimate operators who give amazing promotions, too.

There are a ton of players who have used crypto gambling for quite a bit of time without any kind of problem – years on end, in fact.

Society is becoming more and more global – which only lends to the strength of crypto currency even more, being completely decentralized.

Cryptocurrency is the definition of progress – which makes it the future of iGaming.